Study: Ongoing drought to cost Calif. $2.74 bil.
By Sharon Bernstein, Reuters
California’s ongoing drought will cost the economy in the most populous U.S. state an estimated $2.74 billion in 2015 and lead to the loss of 10,000 seasonal farm jobs, despite overall health in the state’s agricultural sector, researchers said.
Agricultural economists at UC Davis said the drought, entering its fourth year, would impact the state more in 2015 than in 2014, when the total cost to the economy was estimated to be $2.2 billion.
The report, released on Tuesday, also estimated that with dry conditions and difficulty obtaining water for irrigation.